- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: The $600 IRS Bank Account reporting. (GUNS)
Posted on 10/8/21 at 10:29 am to WWII Collector
Posted on 10/8/21 at 10:29 am to WWII Collector
Its not a $600 transaction threshold its for all transactions in accounts that have more that 600. Essentially all transactions monitored no matter the amount.
0
Posted on 10/8/21 at 10:33 am to WWII Collector
They are subverting our Constitution and Bill of Rights.
Amendment IV
The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no warrants shall issue, but upon probable cause, supported by oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.
Amendment IV
The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no warrants shall issue, but upon probable cause, supported by oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.
Posted on 10/8/21 at 10:36 am to WWII Collector
Ultimately it will be used to tax (mostly) low wage earners that are more likely to have cash transactions like under the table payments, cash tips, etc.
As Shell said, it’s an aggregate amount.
So...at the end of the year the bank reports that Suzie the cocktail waitress had an account with $28,000 in movement in and out for the year. The IRS looks and says Suzie only had $19,000 in wages on her W2.
Knock, knock....”Suzie can you explain where this $9000 came from? We want our cut.”
But hey, they’re not going to tax anyone under $400k right? They must keep the narrative so the uninformed will continue voting for these a**holes.
As Shell said, it’s an aggregate amount.
So...at the end of the year the bank reports that Suzie the cocktail waitress had an account with $28,000 in movement in and out for the year. The IRS looks and says Suzie only had $19,000 in wages on her W2.
Knock, knock....”Suzie can you explain where this $9000 came from? We want our cut.”
But hey, they’re not going to tax anyone under $400k right? They must keep the narrative so the uninformed will continue voting for these a**holes.
Posted on 10/8/21 at 10:37 am to WWII Collector
I don't trust them either, but the bank reporting requirements doesn't seem to be about guns. Rather, it's about tax $ and control.
The requirement doesn't require itemized reporting of transactions. It requires the aggregate inflows and outflows be reported on all bank accounts > $600.
This will identify people not being paid via over the counter means (1099 or W2) and allow the IRS to target them for taxes owed.
It's an overreach and I hope it never gets implemented and if it does, it gets ruled unconstitutional. But it's not about guns and ammo purchases.
The requirement doesn't require itemized reporting of transactions. It requires the aggregate inflows and outflows be reported on all bank accounts > $600.
This will identify people not being paid via over the counter means (1099 or W2) and allow the IRS to target them for taxes owed.
It's an overreach and I hope it never gets implemented and if it does, it gets ruled unconstitutional. But it's not about guns and ammo purchases.
Posted on 10/8/21 at 10:41 am to WWII Collector
quote:No, it's a plan to monitor every single transaction, no matter what it is, so they can further spy on people and squeeze as many tax dollars out of us as they can.
I feel this is no more than an attempt to monitor gun and ammo purchases.
They're probably already doing it. They just need legal permission now because they want to mail people the tax bills.
Posted on 10/8/21 at 10:51 am to BobLeeDagger
quote:
Right, but I'm not seeing the logic you're running with here. Are you insinuating that they are tracking this to find out who has AR-15s so they can take them away?
Are Gun Store purchases itemized on your bank account?
The bank would lead to the gun store.. They would have record of my purchase. If in the future ar15's were banned. That would be enough evidence for a warrent right there.
It funny that 2I (And others) were restricted on Facebook from posting in groups or events until after Biden took office... Who on fb kept records of who were Trump supporters and who weren't.
Add that with a huge possibility of people's guns and ammo purchases being tracked.
And then we have reason to suspect the election may have been fraudulent?
No, I don't trust these commie bastards
This post was edited on 10/8/21 at 10:52 am
Posted on 10/8/21 at 10:51 am to idlewatcher
quote:
Many restaurants here in Htown don't even accept cash now.
Not joking. That used to be illegal.
Posted on 10/8/21 at 10:55 am to WWII Collector
quote:
The Smith and Wesson m&p 15 sport II with 30 round magazine.
$749 online.... it would be reported.
900 rounds .556 - $799 online... it would be reported.
Its not a single purchase of $600. It is $600 worth of transactions in a calendar year.
Posted on 10/8/21 at 11:18 am to TigerAxeOK
quote:
The purpose of the 600$ reporting is much more nefarious than that. It's just more "Big Brothering".
absolutely. I'm pretty convinced that they'll employ the same tactic with guns that they are using for everything else. indoctrinate kids/teens to see guns as evil and probably racist, anti lgbtqfrickall+. sure they'll continue to try to legislate but that has proven difficult. plus its a lot less volatile situation when guns are demonized (and therefore unwanted) than it is to try and confiscate. I mean.. why would they screw with what works?
Posted on 10/8/21 at 11:20 am to WWII Collector
its the frog in boiling water.
Posted on 10/8/21 at 11:33 am to WWII Collector
If AR's were banned, then Gun Stores would be forced to comply with federal regulations. Government could go straight to distribution records. They wouldn't have to look at each individuals account. What you are suggesting is a legitimate logistical nightmare.
Posted on 10/8/21 at 11:34 am to WWII Collector
quote:
I don't trust these sobs.
Welcome aboard
Posted on 10/8/21 at 11:42 am to idlewatcher
quote:
There has been a huge push since covid to get rid of cash purchases.
Many restaurants here in Htown don't even accept cash now. It's weird.
Cash IS filthy. But once Covid dissipates. I would expect cash purchases to boom. It will end up costing retail places as they have converted to plastic. Now they will have much more cash on hand. Which reopens security issues and needs for secure pick ups and cash drops.
Posted on 10/8/21 at 11:43 am to WWII Collector
quote:
The $600 IRS Bank Account reporting.
Is this actual legislative law now?
Posted on 10/8/21 at 11:45 am to SDVTiger
quote:
Can't you pay cash for this
Yeah but if you draw large sums of cash from your account = flagged.
Posted on 10/8/21 at 11:46 am to WWII Collector
quote:
I feel this is no more than an attempt to monitor gun and ammo purchases.
I think it's more of an attempt to see political donations so they can put you on a terrorism watchlist. This is a terrifying rule and anyone who is fine with this is my enemy.
Posted on 10/8/21 at 12:36 pm to WWII Collector
I always use cash for those purchases.
Posted on 10/8/21 at 12:38 pm to TheAlmightySmash
quote:
All it would do is incentivize cash purchases
Yep. Already thinking along these lines.
Posted on 10/8/21 at 12:44 pm to WWII Collector
This $600 IRS thing is 100% about tracking gun purchases. The war on cash is real & part of the Great Reset is eliminating cash. When cash is out of the picture you are at the mercy of your bank & your government. This will be a disaster & all these millennials who pay with their cards for their latte’s & most purchases are clueless about where this is heading.
Posted on 10/8/21 at 12:47 pm to WWII Collector
The IRS shite is pointless but you are also filling out a background check when you buy a gun that isn't a personal sell so I don't see your point.
Page 2 of 4
Popular
Back to top
Follow TigerDroppings for LSU Football News